Safety Insurance | 10-Q: FY2025 Q3 Revenue: USD 326.62 B

Revenue: As of FY2025 Q3, the actual value is USD 326.62 B.

EPS: As of FY2025 Q3, the actual value is USD 1.91.

EBIT: As of FY2025 Q3, the actual value is USD 36.64 B.

Segment Revenue

• Direct Written Premiums: For the three months ended September 30, 2025, direct written premiums increased by $15,999, or 5.0%, to $334,181 from $318,182 for the comparable 2024 period. For the nine months ended September 30, 2025, direct written premiums increased by $77,948, or 8.7%, to $978,980 from $901,032 for the comparable 2024 period.

Operational Metrics

• Net Income: Net income for the three months ended September 30, 2025 was $28,310 compared to $25,889 for the comparable 2024 period. Net income for the nine months ended September 30, 2025 was $79,143 compared to $62,603 for the comparable 2024 period.
• Losses and Loss Adjustment Expenses: Losses and loss adjustment expenses incurred for the three months ended September 30, 2025 increased by $22,493, or 12.3%, to $204,982 from $182,489 for the comparable 2024 period. For the nine months ended September 30, 2025, these expenses increased by $65,874, or 12.6%, to $589,504 from $523,630 for the comparable 2024 period.

Cash Flow

• Net Cash Provided by Operating Activities: Net cash provided by operating activities was $120,948 during the nine months ended September 30, 2025, compared to $78,269 for the comparable 2024 period.
• Net Cash Used for Investing Activities: Net cash used for investing activities was $83,276 during the nine months ended September 30, 2025, compared to $13,730 for the comparable 2024 period.

Unique Metrics

• Non-GAAP Operating Income: Non-GAAP operating income was $21,883 for the three months ended September 30, 2025 compared to $16,524 for the comparable 2024 period. For the nine months ended September 30, 2025, non-GAAP operating income was $62,397 compared to $47,542 for the comparable 2024 period.

Future Outlook and Strategy

• Core Business Focus: The company plans to continue to declare and pay quarterly cash dividends, depending on its financial position and the regularity of its cash flows. On August 6, 2025, the Board approved and declared an increase in the quarterly cash dividend from $0.90 to $0.92 per share.
• Non-Core Business: The company has a share repurchase program authorized up to $200,000 of its outstanding common shares. No share repurchases were made during the three and nine months ended September 30, 2025.